LANDMARK INTERNATIONAL EQUITY FUND
497, 1998-01-15
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                                          497(e) File Nos. 33-36556 and 811-6154


                       SUPPLEMENT DATED JANUARY 15, 1998
                                       TO
              STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1997


                       LANDMARK INTERNATIONAL EQUITY FUND
                   LANDMARK EMERGING ASIAN MARKETS EQUITY FUND


THE FOURTH PARAGRAPH OF THE SECTION OF THE STATEMENT OF ADDITIONAL INFORMATION
ENTITLED "DETERMINATION OF NET ASSET VALUE; VALUATION OF SECURITIES; ADDITIONAL
PURCHASE AND REDEMPTION INFORMATION" ON PAGE 12 IS HEREBY DELETED AND REPLACED
BY THE FOLLOWING:


         Trading in securities on most non-U.S. exchanges and over-the-counter
markets is normally completed before the close of regular trading on the
Exchange and may also take place on days on which the Exchange is closed. If
events materially affecting the value of non-U.S. securities occur between the
time when the exchange on which they are traded closes and the time when a
Fund's net asset value is calculated, such securities may be valued at fair
value in accordance with procedures established by and under the general
supervision of the Board of Trustees of the Trust.




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